According to a source acquainted with the matter, Near Protocol is planning to launch its own stablecoin dubbed USN.
The stablecoin rumours began when Zoran Kole, the founder of Zorax Capital, said in a Substack article that Near Protocol would be introducing a stablecoin with a 20% dividend.
Sleuths on Twitter also detected the stablecoin on a testnet version of Ref Finance, the second-largest decentralised exchange on Near. USN is included under the stableswap part of Ref Finance’s testnet website, alongside other popular stablecoins such as USDC, USDT, and DAI. This meant that the stablecoin was being tested, but it didn’t necessarily mean that the official team was behind it.
We haven’t been able to confirm whether the stablecoin will have such large payouts as Kole claims, putting it on par with Terra USD (UST).
Near Protocol is a scalable blockchain that has raised $350 million in an investment round led by Tiger Global, with Republic Capital, Hashed, FTX Ventures, Dragonfly Capital, and others also participating.
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